Stirling Properties Appointed Keepership for Multiple Facilities

COVINGTON, Louisiana —- (November, 2011) Stirling Properties has been named the court appointed Keeper of three Louisiana facilities, representing the lenders in the management of those properties.

The first facility is an office building located at 530 Natchez Street in New Orleans near the Queen & Crescent Hotel. It is approximately 17,000 square feet with about 50% occupancy. The second, is a vacant building located at 11310 Veterans Memorial Drive in Abbeville near the Abbeville Country Club. It is approximately 15,700 square feet of office, lobby and reception space as well as an air conditioned warehouse. The third property is a former 59,000 square foot Sav-A-Center grocery store located at 8315 West Judge Perez in Chalmette.

“Stirling’s goal in any keepership is to stabilize our client’s assets by taking over the day-to-day operations and addressing the concerns of any tenants in occupancy,” noted Donna Taylor, Senior Vice President of Asset Management & New Business Development for Stirling Properties. “Financial institutions and other property owners are looking to Stirling Properties for assistance in managing their properties because of our ability to take projects over with little lead time and our experience, knowledge of the market and breadth of service offerings.”